In the Aftermath of the 2008-2010 Recession, Many Baby Boomers

question 130

Multiple Choice

In the aftermath of the 2008-2010 recession, many Baby Boomers are delaying retirement. According to U.S. Bureau of Labor Statistics, ________ will be working in 2022.

• A) 3.2 million workers 65 and over
• B) 20.5 million workers 65 and over
• C) 13.2 million workers 65 and over
• D) 7.3 million workers 65 and over

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Definitions:

Spending

The process of spending money to buy goods or services.

Income

The amount of money received over a period of time through work, business, investments, or other sources.

Goods

Tangible items that satisfy human wants or needs and are available for purchase.

Maximizing Utility

The economic principle that individuals seek to obtain the greatest satisfaction or utility from their consumption choices within their income constraints.